Oil distributors plan to raise wholesale gasoline prices by 3 yen to 4 yen, effective in September, in line with recent surges in crude oil prices, according to industry sources.
Japan Energy Corp. decided Monday to raise its wholesale gasoline prices by 4 yen per liter next month. Nippon Oil Corp. and other wholesalers are expected to follow suit.
The price increase will be the first in three months. In June, they implemented a 4 yen hike per liter, the sharpest rise since the Persian Gulf crisis in 1990.